The Fibonacci Moving Average is a powerful indicator that takes into account many underlying moving averages to give out an approximate short-term/long-term view of the markets. Its strength lies with dynamic support and resistance levels. I have created this indicator in order to improve trend-following entry positions.
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The new version of the Fibonacci Moving Average has new lookback periods updated to reflect better reactivity levels. For instance, more lookback periods from the Fibonacci sequence have been added.
The Fibonacci Moving Average calculates many exponential moving averages using lookback periods from the Fibonacci sequence on both highs and lows to form a dynamic support/resistance zone.
As a reminder, the Fibonacci Moving Average - FAMA is used exactly as other moving averages with a preference of trading the reactions whenever the market approaches the zone.
Hello, thanks for sharing. I'm wondering why you went with higher numbers (2584,4181) instead of lower (2,3). I found that 2,3 gives closer signals, so curious to your insights for the preference? thanks in advance.
Hii, @Sofien-Kaabar your indicator doesn't seem to be working on cryptocurrency pairs? Could you please take a look at it Thank you?
Sofien-Kaabar
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@MeisaBareh, Hello! At the moment, it works on intraday time horizon only (Such as H1) because with Daily bars, the function needs more historical data and the provided values in the chart can sometimes not be enough, I am trying to fix this. Just loaded Bitcoin on Hourly, it works fine but as expected on Daily, it does not work at the moment.
MeisaBareh
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@Sofien-Kaabar, Ok I have checked it on the hourly time frame and it seems to work just fine thank you, and I hope you can fix the problem on the daily time frame.
CoffeeshopCrypto
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@MeisaBareh, its not a problem. its not just designed to do that so theres nothing to fix
Skypips
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This is amazing thank you. Do you think you it can work on the weekly and monthly candles too?
Sofien-Kaabar
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@Skypips, Thanks! It does, I just have to figure out how to adapt it on the charts above since they don't load much and since the FMA incorporates as much as 4000+ past data.